News Release

Alberta Court of Appeal dismisses Ashmit Patel’s Appeal of ASC Decision

Dec 09, 2021

CALGARY – In a Memorandum of Judgment, the Alberta Court of Appeal dismissed Ashmit Patel’s appeal on the basis that it was moot. Patel had appealed the Alberta Securities Commission (ASC) panel’s written decision of July 5, 2018, Re Kilimanjaro, 2018 ABASC 106, which ruled that certain documents were either not initially protected by solicitor-client privilege or were initially protected, but any such privilege had been waived. A separate panel of the ASC subsequently ruled on the underlying allegations against Patel and others in Re Kilimanjaro, 2021 ABASC 14, and Re Kilimanjaro, 2021 ABASC 131.

A copy of the Memorandum of Judgment is available at albertasecurities.com.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

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For further information please contact:

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Theresa Schroder
Senior Advisor, Communications
587.830.4286
theresa.schroder@asc.ca

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